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lic
Finance LIC chief flags global turmoil pressure on insurance persistency and premium growth
Economic and geopolitical uncertainty is weighing on Indian household savings and insurance demand, with LIC reporting lower long-term persistency and cautious premium growth despite a sharp rise in first-quarter profit. MD & CEO R Doraiswamy pointed to seasonal factors and tighter household savings as key contributors.
Finance Bankers unaware as government timed LIC stake sale to maximise receipts
The Indian government raised Rs 31,000 crore through an offer for sale of LIC shares, timing the transaction to capture favourable market conditions after SBI Mutual Fund's IPO and ahead of NSE and Jio listings. Merchant bankers were kept in the dark until trading closed to prevent leaks and maximise receipts, DIPAM officials said.
Finance Government mops up Rs 31,552 crore from LIC share sale via OFS
The government raised Rs 31,552 crore by selling a 6.5% stake in LIC through an offer for sale, the biggest public offer in Indian stock market history. Shares were allotted at Rs 383.69, above the base price of Rs 382, with demand for 111.3 crore shares against 82.2 crore on offer. LIC's public shareholding now stands at 10%, meeting Sebi's minimum public shareholding norm ahead of schedule.
Finance Government raises LIC OFS size; offer becomes India's biggest stake sale
The government expanded LIC's ongoing offer for sale by an additional 4% after the issue was subscribed 3.3 times on day one, taking the total offer to 82.2 crore shares. At the base price of Rs 382, the OFS is expected to raise about Rs 31,400 crore, making it India's largest-ever offer for sale. Total demand reached nearly 94.5 crore shares, and retail investors will bid on the closing day.
Finance LIC OFS Draws 66% Institutional Subscription by Noon as Centre Sells 6.5% Stake
Institutional investors subscribed 66.10% of the reserved portion in the first leg of the government's LIC Offer-for-Sale by noon Tuesday, bidding for 18.81 crore shares at an indicative Rs 382.07. The Centre is selling up to 6.5% of its LIC stake, with a fully subscribed offer set to raise about Rs 31,000 crore at the Rs 382 floor price.
Government to sell up to 6.5% stake in LIC, may mop up Rs 31k cr
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Finance LIC Engages Regulators for Long-Term Investment Instruments as Annuity Inflows Rise
Life Insurance Corporation of India is engaging with RBI, Sebi, and Irdai to expand long-term investment instruments as annuity inflows rise. CEO R Doraiswamy said the move is needed to match long-term liabilities that can run 30-50 years. The regulator Irdai is aligning rules to support infrastructure financing.
E-Commerce & Marketplaces LIC Eyes Fintech Expansion with Strategic Investments
LIC is exploring strategic investments in fintech to modernize its IT infrastructure and enhance returns for policyholders. CEO R Doraiswamy emphasizes the need for agility and innovation.